uk

British banks may require further taxpayer funds, with borrowing needs potentially hitting £25 billion pounds ($39.5 billion) a month, according to a think-tank. The independent New Economics Foundation said that central bank data indicated the banks are facing major funding problems,...

The U.S. Department of State issued a travel alert on Sunday for Americans who are in Europe or are planning to go there. The alert did not say that Americans should avoid Europe, but that they should be cautious while visiting tourist attractions or in transportation hubs. The alert was triggered...

A jump in government spending helped fuel the UK's economic growth in the second quarter, the country's Office for National Statistics said. Government spending grew 1% in the quarter, the fastest rate in over a year, Bloomberg News reported. This contributed to economic growth of 1.2% for the...

Virgin Group Ltd, founded by U.K. tycoon Richard Branson, plans enter the hotel industry. Virgin will spend as much as $500 million on high-end hotels aimed at "high income, well-educated, metropolitan 'creative class'" customers, Bloomberg News said. The company is scouting for locations in...

The U.K.'s triple-A credit rating is safe, thanks to the government's austerity measures and a flexible economy, rating agency Moody%u2019s said.

Package-delivery company United Parcel Service (UPS) is launching its largest ever marketing campaign to promote its logistic business to small and medium- sized companies looking to export their products. For years, the company has been known worldwide for its slogan: "What can Brown do for...

Londoners were forced to take buses, boats and taxis to work as a strike by subway workers crippled service. About 40% of London's subway trains ran this morning, with one line completely out of service, Bloomberg News reported. The city added about 100 extra buses and a boat with room for 500...

Stephen Green, the chairman of British bank HSBC (HBC), will step down to become the United Kingdom's new Trade Minister, BBC News reported. The appointment will be announced later today, BBC News said without naming its sources. There has recently been speculation that HSBC could move its...

The British economy grew more than previously thought in the second quarter, boosted by a strong showing in the construction sector. The UK economy grew 1.2% from April through June, the fastest quarterly expansion in more than nine years, the country's Office for National Statistics said. The...

Citigroup (C) intends to sell UK Internet bank Egg as part of a plan to dispose of peripheral assets. Egg will likely fetch a price of about £500 million ($796 million), The Daily Telegraph reported without naming its sources. Citigroup bought Egg from UK insurer Prudential 2007 in a deal...